Updated Dec 4, 2024
Timothy Salm & Richard Parrillo Sell Chicago Mansion Under Contract For $23.5M
1932 North Burling Street
$23,500,000
$940/SF
Building Size
25,000 SF
Asset Type
Single Family
Closing
Jul 12, 2024
About this deal
AI
The property at 1932 North Burling Street in Chicago has been put under contract. This single-family home sits on 0.6 acres, with a square footage of 25,000 and a price of $23,500,000.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $23,500,000
- City: Chicago
- Size: 0.6 acres
- Seller: Michaela Parrillo; Richard Parrillo - United Automobile Insurance Company
- Broker: Timothy Salm - Jameson Sotheby's International Realty
The home, listed as Chicago's most expensive home at $50M, has undergone multiple price cuts over its eight-year listing period. As it stands under contract at $23.5M, the deal could result in a significant loss for the owners.
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Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93